SegPay Reports 24% Hike in Volume Growth in 2016

Feb 8, 2017 11:48 AM PST

FT. LAUDERDALE, Fla. — SegPay reported today that it closed 2016 with a 24 percent growth in overall volume for the year.

The payment processor said it is also set for significant growth in 2017 after making major investments in its administrative system.

SegPay implemented platform upgrades in 2016 to give merchants a simplified yet enhanced and efficient payment processing experience, according to Cathy Beardsley, president and CEO of SegPay

“2016 was all about advancement and enhancements at SegPay,” Beardsley said. “We’ve made serious investments in ourselves to better serve our clients.”

Part of SegPay’s system investments last year included updating and translating its customer support website, adding card updater, retention offers, 3D secure safety technology, dynamic recurring billing and multicurrency functionality.

SegPay also invested in the company’s talent and skillset by expanding its staff by 28 percent to support its growing client roster and technology advancements. The company hired new employees to help accomodate its growing product offerings, quality assurance, development and marketing needs.

Beardsley said that the payment processor has forged new partnerships for merchants in the high-risk credit card processing space, including white label cam technologies.

She said the company continued to build strategies around cutting-edge technology programs to provide merchants additional lines of revenue. 

“We look forward to helping our merchants drive significant business growth in 2017,” Beardsley said.

Jeff Rosenzweig, vice president of operations at SegPay, said the payment processor so far is off to a “strong start.”

“A big part of our growth last year was introducing our new payment gateway to the marketplace,” Rosenzweig said. “With the launch of this offering and the team’s dedication to speeding up the payment process as a whole, we can now shift focus toward growing market share.” 

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